Do You Own a Business or a Job? - Coaching Success - #518
Barbell Logic
Barbell Logic
4.6 • 1.2K Ratings
🗓️ 19 January 2024
⏱️ 45 minutes
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Summary
Do you own a job or a business? Does owning a business make sense for you? Either way, you need to approach this intelligently, thinking about the business you're in and the job you have.
Check out the Stupid Tax podcast, with Scott Hambrick and Mitchell Baldridge.
Job or Business - Should I Own a Business?
Not everyone should own a business. Probably, most people should not own a business.
It's not an insult: it's reality. Owning a business is too much risk and stress for some people.
You still may be an excellent coach or technician. You may provide a huge amount of value to your employer or to your customers.
If you're the right person to own a business, you probably find yourself unable to put up with some of the downsides to jobs and tend to naturally get after it.
Matt and Scott are great examples of people who are natural business owners.
Job or Business - Which Do You Own
You may want to consider simply owning your own job, rather than a business.
For example, you may want to be a coach, get as many clients, but not be a business owner. You may own a job.
You'll still have to be your own boss and complete certain functions that aren't simply coaching, but you may not want to have other employees, and may be happy with growing to a point, making good money, and not be worried about a business.
As a business owner, you assume the risk. You will likely, over time, hire employees - some will be technicians, others will be managers. You need to understand the nature of the business you are in.
For example, Scott talks about the gym owner business as a type of real estate.
Job or Business - How Good Can This Get?
Regardless of whether you own your job, a business, or you work for someone else, you need to think about what your options are.
What is important to you? Can you deal with the risk and stress of business ownership, or not? Do you want to grow a business, or are you okay with a smaller, steady income stream? Would you like to simply punch the time clock and not worry about things when you're off?
Understanding the nature of your business or job and whether it is really a business or job is important.
On the Stupid Tax podcast, Scott and Mitchell discuss thinking or your job, even if you work for someone else, as a service you are providing that employer. It may make sense, for some, to work for that company as a contractor rather than an employee, for example.
Do you own a job or business?
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Transcript
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| 0:00.0 | You're listening to Barbell Logic. |
| 0:04.7 | The podcast where we talk about what it means to experience strength. |
| 0:08.3 | And how you can use simple, hard and effective strategies in training and nutrition to improve your life. |
| 0:15.0 | It starts with meeting you where you are right now and finding lasting solutions. |
| 0:20.0 | Welcome to the show. You're listening to the Marble Logger podcast. It's another episode of the |
| 0:36.0 | coaching success series. I am your host Matt Reynolds. We have a special treat |
| 0:40.0 | today. My original partner in crime, |
| 0:44.0 | podcast co-host, the Barbologic Podcast from 2017 |
| 0:46.8 | till I don't know, when, 21 or something? |
| 0:49.6 | I think that's right, yeah. |
| 0:50.8 | 350 shows or something like that. |
| 0:52.3 | Yeah, Scott Hambick, welcome back to the show, man. |
| 0:54.7 | I mean, thank you, it feels like home. |
| 0:56.4 | I like the setup back there. |
| 0:58.2 | You got all the sweet books for those you guys that can see the video. |
| 1:00.9 | Hey, thanks. |
| 1:02.1 | My kids, I told them, I was like, hey man, I'm going to be recording with Reynolds tomorrow. |
| 1:06.7 | And I had mentioned to them that I think that you had an acquaintance with Jeremy Fragrance. |
| 1:12.3 | Is this true? |
| 1:13.0 | It is true. Yeah, I know him. |
| 1:15.0 | They said they want to hear about this. |
| 1:18.0 | Did he assign you a custom fragrance? |
... |
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